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Belgium’s FSMA Blacklists 14 New Crypto Investment Scam Platforms.

Belgium’s FSMA [Financial Services and Markets Authority] has banned 14 new ‘websites‘ to its growing list of internet sites flagged as cryptocurrency investment scam platforms. The number of internet sites on the list currently stands at 113 with the new additions as the regulator continues its efforts to safeguard Belgian investors from the comparatively new and quick growing threat of crypto scams.

To underscore the seriousness of the threat, since 2016 the FSMA has taken some serious steps of offering a series of written warnings to native investors specifically warning them to keep their cash away from any schemes publicized on the 113 ‘websites‘ that are named and shamed on its blacklist. Earlier in July 2016, the FSMA issued one such statement advising investors against investing into OneCoin, a cryptocurrency ponzi scheme that was once famous across Europe and Asia.

FSMA Blacklisted Websites

In line with the latest statement ‘revealed‘ by FSMA, the newly added fourteen website names are as under:

1. www.ajassetmanagement.com

2. www.cabinet-finsbury.com

3. www.capital-coventry.com

4. www.capital-secure.com

5. www.capitalmarketing-internationalltd.com

6. www.cashlesspaygroup.com

7. www.cobber-finance.com

8. www.conseil-premium.com

9. www.cryptomonaies.com

10. www.direct-ep.com

11. www.epargnecapital.com

12. www.gbe-capital.com

13. www.moneo-invest.com

14. www.phoenix-gm.com

This statement becomes the third investment consultative notice against cryptocurrency scams to be issued by the FSMA in 2018 alone following previous ‘statements‘ in Feb and Oct., with the continuing adoption of cryptocurrencies creating them a favoured vehicle for cybercriminals in Belgium and across Europe and Asia. The regulator points outlines the statement that despite the immensely varied claims and sales tactics employed by such scams, the fundamentals however stay simple – efforts to inspire capitalist confidence using acknowledged consultants followed by inevitable disappointment and loss.

While explaining further, the announcement reads:

“The principle remains the same: they may provide you an investment they claim is secure, straightforward and really moneymaking. They try to inspire confidence by reassuring you that you just don’t ought to be an expert in cryptocurrencies so as to speculate in them. They claim to possess specialists who can manage your investments for you. You’re told that your funds may be withdrawn at anytime or that they’re always secured. In the end, the result’s invariably the same: the victims notice themselves unable to recover their money!”

In addition to public investment warnings against such schemes, the FSMA has additionally updated the blacklist 5 times antecedently in 2018 as cybercriminals exploit the perceived lack of restrictive uniformity across the EU to push ponzi schemes and illicit investment programs that settle for cryptocurrency deposits from investors.

 However recent events indicate that the era of restrictive disparity within the EU is close to its end , as the largest global trade phase contemplates implementation of a restrictive regime that may produce North American-style unified anti-fraud task force within this cryptocurrency era.

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